Installed Building Products, Inc. (NYSE:IBP) Short Interest Update

Installed Building Products, Inc. (NYSE:IBP) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,670,000 shares, a drop of 7.7% from the October 15th total of 1,810,000 shares. Based on an average trading volume of 273,300 shares, the days-to-cover ratio is presently 6.1 days. Currently, 7.1% of the shares of the company are short sold.

Installed Building Products Price Performance

Shares of IBP opened at $200.02 on Monday. The company has a 50 day moving average price of $230.77 and a 200-day moving average price of $224.15. Installed Building Products has a fifty-two week low of $138.37 and a fifty-two week high of $281.04. The stock has a market capitalization of $5.63 billion, a PE ratio of 22.22 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. Installed Building Products’s payout ratio is 15.56%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Evercore ISI lifted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average price target of $252.30.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after purchasing an additional 18,890 shares in the last quarter. State Street Corp increased its stake in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares in the last quarter. FMR LLC increased its stake in Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares in the last quarter. Geode Capital Management LLC increased its stake in Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after purchasing an additional 23,179 shares in the last quarter. Finally, Swedbank AB increased its stake in Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after purchasing an additional 43,000 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.